KANSAS DEVELOPMENT FINANCE AUTHORITY

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Brendan Washington
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1 KANSAS DEVELOPMENT FINANCE AUTHORITY FINANCING APPLICATION 1. Applicant (Person or Company): _ (Use exact name in which title will be taken) Provide a brief description of the type of business or businesses engaged in by the Applicant, and a brief description of the Applicants business structure, e.g. corporation, partnership, limited liability corporation, etc.: _ Principals: (If a partnership, name partners; If a corporation, name officers and directors) Describe any material litigation or contingent liabilities involving the Applicant, or if the Applicant is a limited liability company, its managers and or members: (Attach information separately, if necessary) If the Applicant or any of the Applicant s officers, directors, general partners, or if the Applicant is a limited liability company, its managers and/or members, or any other principal of the Applicant has been convicted of a felony or a misdemeanor involving moral turpitude, or is now or has ever been charged with or convicted of any civil or criminal offense relating to the conduct of the business, of the Applicant or any similar person or from the issuance, sale, or solicitation for sale of any type of security, the Application must so state. If the Applicant is not a publicly-held concern, then please attach financial statements prepared in accordance with generally accepted accounting principles by a certified public accountant for the Applicant s 3 most recently completed fiscal years, except that if the Applicant has been in business less than 3 years, such financial statements for such shorter period, if available. Personal financial statements may be presented in nonstandard format and may utilize historical costs with market values allowed as supplemental information (provided information as to how the market values were determined is included). The personal statements must be prepared by a certified public accountant or signed by the Applicant or the Applicant s agent. If the most recent annual financial statements were prepared more than 6 months prior to the date of the Application, then the Applicant may be required to submit an interim financial statement to the Authority. 1

2 If the Applicant is a publicly held concern, then please attach the following: The Applicant s most recent annual report. The most current rating sheet(s), if any debt securities of the Applicant are rated. The most recent quarterly unaudited financial statements, reports on Forms 10Q and 10K and proxy statements. Has the Applicant or any related person previously been denied financing, whether conventional, tax-exempt or otherwise for the proposed or similar Project? If yes, please indicate particulars. (Attach explanation separately) Has the Applicant ever defaulted on any debt obligation including, without limitation, any public or private bond, mortgage not, or debenture, If yes, please indicate particulars. (Attach explanation separately) 2. Does your Organization have a Not-for-profit Status? _ Yes _ No _ If yes, what is the IRS designation? _ 501(c)(3) _ 501(c)(4) _ Other If 501(c)(3), please indicate year and date that the IRS designation was first received: If other, please explain: 3. Project to be Financed: Check One: _ Acquisition and Rehabilitation _ Taxable _ New Construction _ Non-Taxable Project Name: 4. Description of Project (include public purpose of Project) and Location (Address): _ Please identify the appropriate municipal governing body to whom the K.S.A (c) statutory notice of intent to finance a project must be sent: _ Applicant must contact the local officials of the political subdivision in which the Project is to be located, to explain the Project and obtain their approval (verbal is okay). Has this step been taken yet? Yes No Legal Description: _ 2

3 5. Applicant's Financing Status (Indicate whether Financials are for a Calendar Year or Other Period) A) Total Amount of State and Federal Funding through SRS or Other Sources: CY or FY 20 $ CY or FY 20 $ CY or FY 20 $ B) Total All Revenues: CY or FY 20 $ CY or FY 20 $ CY or FY 20 $ C) Total Assets CY or FY 20 $ D) Total Liabilities CY or FY 20 $ E) Name, Address and Phone Number of Applicant's Certified Public Accountant (CPA) Firm 6. Evidence of Proper Zoning attached: (APPLICATION WILL NOT BE PROCESSED WITHOUT SUCH EVIDENCE) PROPOSED BONDS: 7. Expected Date to Close Financing: _ Expected Date to Start Project: Expected Date to Complete Project: Anticipated Purchasers: Anticipated Interest Rate: Term of Bonds to be issued: Describe credit enhancement if applicable: Proposed Bond Sale and Issuance Date: Expected Type of Bond Sale: Check one: Private Placement Public Sale 8. Number and type of temporary (i.e., construction) and permanent jobs created: 3

4 9. How is the economic base of community and state assisted? (i.e., How is the low-income or elderly person assisted). Describe fully and in detail, include feasibility study, if available. 10. Estimated Project Cost: (Please indicate which costs, if any, have previously been incurred by Applicant or Related persons): Land Costs (excluding any buildings)... $_ Building Costs on existing land... $_ Construction or Rehabilitation costs (please specify components of more than $100,000): _ Design (architect, engineer)... Financing Costs... Legal Costs... Marketing Costs... Administrative Costs... Other Costs: _ TOTAL CONSTRUCTION AND ADMINISTRATIVE... _ TOTAL PROJECT COSTS... Source of Funds for Costs: Bonds issued by KDFA... Equity... Grants Tax Credits from the Kansas Department of Commerce..... Other (please specify)_ TOTAL _ 4

5 11. Proposed Effect on Taxes: Present Property Tax Base: Property Taxes After Completion: Property Tax Increase: Estimated Sales Taxes During Construction: _ 12. Projected Project (KDFA) Loan Terms: Principal Amount... _ Interest Rate: Fixed Variable.... _ Term:.... _ Amortization: Level Balloon 13. Has project been appraised? Yes No If Yes, the appraised value of the project... _ Name, Address and Phone Number of Appraiser 14. Security for Loan: Project Mortgage: Yes No Assignment of Project Rents: Yes No 1st or 2nd Mortgage:_ Personal Guaranties: Yes No FHA Mortgage Insurance: Yes No Of Whom: Government Assistance: Yes No If "Yes", what type: Other sources, revenues from any other public or private sources, contributions or other financial assistance from the state or federal government: Describe any assurances or guarantees expected to be provided with respect to construction of the Project: _ 5

6 Other (if any, such as bond surety, bond insurance, letter of credit, collateral pledge, grants): _ 15. Name and Address of Participating Professionals: Underwriter or financial institution which will purchase the bonds: Name:_ Address: _ Telephone: () _ Bond Counsel: Name:_ Address: _ Telephone: () Bond Trustee: (if any) Name: Address: _ Telephone: () _ Company Counsel: Name: Address: _ Telephone: () Accountants: Name:_ Address: _ Telephone: () Borrower Contact Person: Name: Address: _ Telephone: () _ Other: Other: Name:_ Address: _ Telephone: () Name: Address: _ Telephone: () 6

FHA 242 Loan Insurance: Background & General Characteristics

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